the price at which goods are or have been bought by a merchant or retailer.

markup

ˈmɑːkʌp/

noun

1.

the amount added to the cost price of goods to cover overheads and profit.

“a mark-up of 50 per cent”

Gross profit is a company’s total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Gross profit margin is a financial metric used to assess a company’s financial health and business model by revealing the proportion of money left over from revenues after accounting for the cost of goods sold (COGS). Gross profit margin, also known as gross margin, is calculated by dividing gross profit by revenues.

Gross Contribution Margin is Net Sales minus the variable product costs and the variable period expenses. The Contribution Margin Ratio is the Contribution Margin as a percentage of Net Sales.

Let’s illustrate the difference between gross margin and contribution margin with the following information: company had Net Sales of $600,000 during the past year. Its inventory of goods was the same quantity at the beginning and at the end of year. Its Cost of Goods Sold consisted of $120,000 of variable costs and $200,000 of fixed costs. Its selling and administrative expenses were $40,000 of variable and $150,000 of fixed expenses.

The company’s Gross Margin is: Net Sales of $600,000 minus its Cost of Goods Sold of $320,000 ($120,000 + $200,000) for a Gross Profit of $280,000 ($600,000 – $320,000). The Gross Margin or Gross Profit Percentage is the Gross Profit of $280,000 divided by $600,000, or 46.7%.

The company’s Contribution Margin is: Net Sales of $600,000 minus the variable product costs of $120,000 and the variable expenses of $40,000 for a Contribution Margin of $440,000. The Contribution Margin Ratio is 73.3% ($440,000 divided by $600,000).

Business Analyst plays a very important role in the entire cross functional agile team. They are the more real truth about the requirement of the business to software developers. Since Business Analyst have seen much software being build and broken over the years they develop a strong skill on how the solution works. They are very much aware of the overall flow of the software or High Level Architecture. An experienced Business Analyst in a team with senior developer and junior developer. It is natural that they with experience start captaining the project. Also there can be a deliberation and debate over the logic of the requirement, thus putting out all possible input conditions. There is nothing wrong about it but when you are not a part of everyday coding. It doesn’t make any sense to decide on what will be the table names, will the logic reside on database or code level. It should be the job of developer. Definitely all suggestions are welcome, however you cannot dictate terms.

Here are my reasons why it should be a job of developer to do the detail decision:

Developer has their own design challenges to deal with. All the decisions are taken based on the requirements provided by Business Analyst.

There are underlying coding style or design choices which a developer is comfortable with. This will help them in long term maintenance of the project. Also there can be multiple solutions to a particular problem.

The design of procedural programming will be difficult to adapt in object oriented programmer or functional programming.

The performance issues of 1999 i.e. of memory and latency is no longer valid on today’s day and age.

In memory functional programming helps parallelism easier than last decade.

How can I track how many clicked the referral link via my Instagram bio?

I wondered there should be an easy way without setting up your website and manage it via google analytics. It was a quick search and easy use. The answer is use bitly.com and its Free.

The use case explained below, Say you have an Instagram account and you are promoting a brand. For example purpose you are promoting www.nike.com

Login to bitly via your Facebook or Twitter account. You can also create a new signup. I created a new signup. Once you login you will see below screen.

Next you click on top right orange button Create Bitlink. You will see the screen below. First you paste the long link of your referral in the box which says “PASTE LONG URL”. Example: www.nike.com Click on create button on the bottom of the page.

You will moved to another page displayed on the right side EDIT BITLINK. On Edit page update the “TITLE” box as some meaningful name – Instagram (Any social media site you want to track the source from). Then click Save.

That’s it. You are done. Your link is ready for tracking. See below.

Now it is time to test. Copy the link and paste it into your Instagram bio. I tested it for my site and below is the result on your dashboard.

The same with full screen and additional dashboard information for multiple links.

If you have any further question add it on the comments below. I will try to answer them.

You must have taken at least 1 business training or any other training to improve your business and life. I did it many times before and a more recent one which is an year long program. A big commitment as a team. I was very excited and all set for the transformation it will bring to my business.

The training was magnificent something I have never experienced before.

I felt lot inspired and more confident of making my vision a reality, even completed a long pending blog post I wanted to write long back. It was all good feeling, all the idea were already possibility in my mind. The life was all high!

Chatted all possibility with my business partner, It was a party!!! We discussed and discussed all the to-do we can do, and we must do immediately. We stopped all the things we were trying to do and just went into all that happened and started discussing on all points we came across. I wonder it was more thinking and talking.

Created a whats app group of all the students who came to the training. We all talked about all the amazing experience. Shared all the pictures and video. Appreciating each other strengths and wished each other for all success.

Told all the detail stories to my wife. I was so pumped with all the experience from morning 9am till 3am in the night. It was all small story that popped up here and there. I keep telling her all the time for the week after my training.

WHAT I DID NOT DO?

I did not took any action in my real business that would move my Business forward.

Which means the week before my training and week next after my training was same. We worked in the business. For those who got it, will understand. For other I will explain it some other time.

Its with heavy pain I am writing this.

I took stock of my actions in the following week, I had to document this so that it may help some one out there. I think that, this is the number 1 reason why all the training you do doesn’t help. However having said that. I have got a way to implement all the learning. Let me try that and bring it to you how it turned out. Remember I am at the same position as your are in the journey of Entrepreneurship

Arfeen Khan‘s business training program had a huge discussion between individuals on what is the mission of the company you are building. Every business man and women were telling their mission in terms of turnover. Even I was struggling to find the mission of my company. I have a vague vision of my company however it is not clear. With all the debate around mission, vision and values to create the business. Where few say it doesn’t matter, I believe it is worth knowing your company’s mission and purpose for your existence.

I may still be in search… I thought of searching and studying mission statement of 500 companies who have made a difference in the world.

My mission here is to understand the “Why” they did what they did?

So this is the 1st part of the 5 part series. This post contains mission of 100companies.

Disclaimer: All mission statements are searched from web either on company’s website or some other online resource. It is not verified by the company. Also few companies have mentioned their visions. The idea here is to inspire you with their mission.

Tata: “To improve the quality of life of the communities we serve globally through long-term stakeholder value creation based on Leadership with Trust.”

Uber: “Uber is evolving the way the world moves. By seamlessly connecting riders to drivers through our apps, we make cities more accessible, opening up more possibilities for riders and more business for drivers.”

Tesla: “Our goal when we created Tesla a decade ago was the same as it is today: to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible.”

AirBnB: “To connect millions of people in real life all over the world, through a community marketplace– so that you can Belong Anywhere.”

Twitter: “To give everyone the power to create and share ideas and information instantly, without barriers.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

ITC: “To enhance the wealth generating capability of the enterprise in a globalising environment, delivering superior and sustainable stakeholder value”

Facebook: “Facebook’s mission is to give people the power to share and make the world more open and connected. People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.”

Microsoft: “At Microsoft, our mission is to enable people and businesses throughout the world to realize their full potential. This is our mission. Everything we do reflects this mission and the values that make it possible.”

L’Oréal: “Offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy and safety”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

SnapDeal: [Vision] “Snapdeal’s vision is to create India’s most reliable and frictionless commerce ecosystem that creates life-changing experiences for buyers and sellers.”

Walt Disney: “The mission of The Walt Disney Company is to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.”

Ikea: [Vision] “At IKEA our vision is to create a better everyday life for the many people. Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Citi: “Citi’s mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.”

Cisco: “Shape the future of the Internet by creating unprecedented value and opportunity for our customers, employees, investors, and ecosystem partners.”

ASOS :”To become the number 1 fashion destination for 20-somethings globally.”

Cocacola: “To refresh the world…To inspire moments of optimism and happiness…To create value and make a difference.”

Ford Motor Company: “People working together as a lean, global enterprise for automotive leadership, as measured by: Customer, Employee, Dealer, Investor, Supplier, Union/Council, and Community Satisfaction”

Harley-Davidson: “We fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments.”

General Electric: “GE’S Mission is to invent the next industrial era, to build, move, power, and cure the world.”

Patagonia: “Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.”

Virgin: “Our vision is to contribute to creating happy and fulfilling lives which are also sustainable – surely a vision worth aspiring to? With businesses spanning many sectors and touching many aspects of our customers’ lifestyles we feel that Virgin is in a perfect position to contribute to this vision. After all, the Virgin brand has always been about having fun in a unique Virgin way.We believe that we have a part to play in making this a reality and so our vision for sustainability within the Virgin Group is: “to make a credible contribution towards sustainable lifestyles whilst meeting or exceeding the expectations of our staff, customers and other stakeholders.”

Southwest airlines: “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Amazon: “Amazon’s vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”

PricewaterhouseCoopers (PwC): “Our ambition is to be the leading global professional services organisation, solving complex business problems for top-tier clients in global, national and local markets.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Novartis: “Our mission is to discover new ways to improve and extend people’s lives.”

LIC: “Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development.”

Ideo: “IDEO is a global design company. We create positive impact through design.”

LinkedIn: “To connect the world’s professionals to make them more productive and successful.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

MetLife Inc: “The capable team of MetLife’s Customer Response Center (CRC) shares a common mission – that all customers are “Met for Life.” By balancing the efficiencies of new technologies with the personal touch of highly trained and motivated professionals, we are able to deliver solutions and services that exceed our customers’ expectations. We thereby earn their loyalty.”

Fedex Corporation: “FedEx Corporation will produce superior financial returns for its shareowners by providing high-value-added logistics, transportation, and related business services through focused operating companies. Customer requirements will be met in the highest quality manner appropriate to each market segment served. FedEx will strive to develop mutually rewarding relationships with its team members, partners, and suppliers. Safety will be the first consideration in all operations. Corporate activities will be conducted to the highest ethical and professional standards.”

Caterpillar Inc (CAT): “As a global leader, Caterpillar will provide the best products and services in construction and mining equipment, diesel and natural gas engines, and industrial gas turbines for helping people in construction and transportation”

Trip Advisor: “To help people around the world plan and have the perfect trip.”

Successories: “Our goal is to provide exclusive, high-quality products and programs and be an authoritative source to help businesses and organizations communicate, drive and reinforce core values, motivate people to superior performance, and recognize individual and group achievements. We do this by being an innovative leader in designing, manufacturing, marketing and distributing such products, always with our customers’ needs in mind. Fanatical customer service is a hallmark of our operating philosophy.”

Cultivated Wit: “We believe that humor combined with slick design and a creative use of technology can make complicated ideas more understandable and products more fun. Our mission is to bring great ideas to life and help others do the same.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

MacDonald: “McDonald’s brand mission is to be our customers’ favorite place and way to eat and drink. Our worldwide operations are aligned around a global strategy called the Plan to Win, which center on an exceptional customer experience – People, Products, Place, Price”

Dominos: “Domino’s is a company of exceptional people on a mission to be the best pizza delivery company in the world.”

Asana: “To help humanity thrive by enabling all teams to work together effortlessly.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Boeing: “Connect, Protect, Explore and Inspire the World through Aerospace Innovation”

Intel: “Delight our customers, employees, and shareholders by relentlessly delivering the platform and technology advancements that become essential to the way we work and live.”

P&G: “We will provide branded products and services of superior quality and value that improve the lives of the world’s consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper.”

Dell: “Dell’s mission is to be the most successful computer company in the world at delivering the best customer experience in markets we serve.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

NetApp: “Our mission has always been to help our customers achieve what matters most to them.”

Intuit: “To improve its customers’ financial lives so profoundly, they couldn’t imagine going back to the old way.”

Teleperformance: “At Teleperformance, we deliver an outstanding customer experience, at every single opportunity, as a result of our commitment, passion and dedication to excellence. In so doing, we create opportunities and value for employees, clients, customers, communities and shareholders.”

The Oberoi Group: “We are committed to meeting and exceeding the expectations of our guests through our unremitting dedication to every aspect of service.We are committed to the growth, development and welfare of our people upon whom we rely to make this happen.Together, we shall continue the Oberoi tradition of pioneering in the hospitality industry, striving for unsurpassed excellence in high-potential locations all the way from the Middle East to the Asia-Pacific.As a result, we will create extraordinary value for our shareholders.”

Titan Company Ltd : “We will do this through a pioneering spirit and a caring, value-driven culture that fosters innovation, drives performance and ensures the highest global standards in everything we do.”

InMobi: “Enabling consumers and businesses make smarter decisions by building the deepest understanding of people across the world.”

Minda Stoneridge Instruments Ltd: “Our mission is to be an automotive System Solution provider and Build a Brand recognized by vehicle manufacturers progressively all over the world, as an organization providing products and systems Unparalleled in Quality and Price.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Urban Ladder: [Vision] “Our vision is to set global benchmarks for distinctive products, consumer experiences and honest best practices”

Micron: “Be the most efficient and innovative global provider of semiconductor solutions.”

Cradles to Crayons: “Cradles to Crayons provides children from birth through age 12, living in homeless or low-income situations, with the essential items they need to thrive – at home, at school and at play. We supply these items free of charge by engaging and connecting communities that have with communities that need.”

Eram Scientific Solutions: Constantly innovating and applying Science and Technology to develop solutions against the pressing needs of the society. Applying unconventional methodologies and ‘Out of the Box Thinking’ and practices. Focus on developing solutions in alternate energy, clean technologies, and pro nature applications. Ensure the democratization of wealth and knowledge. Evolve itself as an abode of multi-disciplinary development enthusiasts.

Owens-Illinois: “Our mission is to design, manufacture, and deliver products and services that meet the unique needs and expectations of each customer. To that end, we have successfully built a solid foundation and infrastructure for glass container manufacturing.”

Owens & Minor: “Our mission is to create consistent value for our customers and supply chain partners that will maximize shareholder value and long-term earnings growth: we will do this by managing our business with integrity and the highest ethical standards, while acting in a socially responsible manner with particular emphasis on the well-being of our teammates and the communities we serve.”

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

Hyatt: “To provide authentic hospitality by making a difference in the lives of the people we touch every day”

Adobe: “To move the web forward and give web designers and developers the best tools and services in the world.”

Tumblr: “To empower creators to make their best work and get it in front of the audience they deserve.”

Du Pont:”To create shareholder and societal value while reducing the environmental footprint along the value chains in which we operate.”

Whole Foods: “Our deepest purpose as an organization is helping support the health, well-being, and healing of both people — customers, Team Members, and business organizations in general — and the planet.”

3M: “To Improve Every Life through Innovative Giving in Education, Community and the Environment.”

Hope to write next 100 companies mission statements soon.

Hope you are enjoying the mission statement, If you want to read missions of more companies, then share this post. Once it reaches 100 people I will write next 100 companies mission statement. Let me know if these missions are worth writing by sharing them.

It feels amazing to be in the business for two years now. Last year was a great landmark for my experience as a Entrepreneur, we achieved a remarkable milestone. The best part of being an Entrepreneur or Businessman is that we can set our own rules and the race is with our own self. Yes there is always the eco-system in which we need to play.

Focus

I started my second year with keeping a focus more long term perspective hence we make some hard decision to focus of adding value to the existing clients over short term profits. We also made some improvements in our process and methods of delivering quality software, like dedicating an entire day in a week to improve our product. The action we took and executed swiftly was highly appreciated and all our clients were happy about it. To focus on fewer things and make deep progress was really beneficial for us.

Fun

I have always been related to happiness and I look for every opportunity for being happy. Happiness is an abstract thing and different for every one. You cannot have a switch to make one happy. However you can have fun in any situation. If you think enough and use a your creativity you can have fun. Work is separated from fun, I really don’t understand why you cannot have fun while working. Your workplace is where you spend maximum amount of time of your life. Example: When things go wrong, have a laugh with the junior team member and think why there is a loophole in your business for such mistake which could be avoided in the first place.

Freedom

Freedom is one of the most valuable assets that I leveraged. Be it the number of hours in my office. (I reduced it) The freedom to think of crazy ideas and ways to implement. The freedom to chose the goals and not to get distracted from noise. The freedom to have a healthier life. Also the freedom to work on weekend to help our clients better. Its not that earlier I couldn’t do the above but now I have the choice and freedom to structure my day according to my will. The ownership of my freedom lies in my hand. Having said that, It makes me look like I am making use of my freedom in a very conservative way.

Found

Last year we ran a feedback survey with all our clients. We found really some great insights from them. The area of our strength was our team’s responsiveness to them, which has nothing to do with the core product & service line we offer. Similarly we got a unified answers to the areas of our product where we can improve. The method we used was a simple Net Promoter Score. Thanks to all the business men/women who came and created all this simple and wonderful tools to run the business more smoothly. Also we started our search for new clients and business development strategy. The methods we opt for is simple and easy to execute. Thus helping us to make progress in right direction.

Feel

I often read that journey is more important than destination, but quite never understood it’s meaning. I personally enjoy various experiences over possession of things. So in this journey of business, be it getting new work from existing clients or the tough calls of less work from them. The happy client meeting or the concerns from them. The destination to my journey is not fixed yet but I already feel good about it. The feeling of being in an adventure.

I am going to talk about the experience I had last year when I became the director of www.73bit.com, it was an unbelievable experience. During that year I had an idea of taking care of my health a little. Simply to loss some weight, however to using some simple hack and make the living changes. I took some tip from a friend who had a dietitian. Even the exercise I selected was all cardio like swimming, walking, climbing stairs and cycle to work. Keeping in mind that all the changes I make in living is simple to follow and sustainable for long term. The food choices were more healthier green and raw. I won’t be specific here because I don’ think I am qualified to mention about anything. Let’s cut to the chase I lost around 10 kg over the period of 11 months and the graph is given below. I am very proud of it because earlier I thought I will be only losing 5 kg. Not only I was able to do that with in 3 months but manage to live it for another several months.

Now coming to the lesson learned of maintaining the weight and keeping the top line in small business

Partners are awesome. The actions we need to take are known to us and the missing piece is partner & team. Both in getting healthier and running my business I had a partner. The milestones were set together, the checks and corrections were made collaboratively. It helps when people around you know what you are aiming for and they can also be a part of journey and benefit from it.

Patience is key. Earlier on the rocket burns a lot of fuel to get it self up against the gravity. Similarly to roll the ball you need the initial inertia and faith that things are going to be awesome. What we focused on was to only concentrate on the actions and measure only 1 factor in out come. One is better than Zero. You can challenge the choice of measuring unit both the weight and top line revenue. However the reason we choose it because it is easy to calculate and shows up every time.

Simple means not easy. The plan and action I took was simple. To keep it continuous for whole year was not easy. There were time when the craving for the Indian sweets or feeling of not answering to that mundane support ticket always came. But the idea to break it down and the thought of fulfilling the simple outcome made me overcome it. I was not successful 100% of the time but didn’t made it slip out of my hand.

Celebrating the small victory. It becomes very important to celebrate all the small victory because keeping the ball rolling is what helps you. It may sound like cliche, but that is how the reality distortion with work in a smaller version. To make the feeling of victory so remarkable just like a child enjoys the sweet candy given to them. There will be definitely milestones in your field which you can attain and if you keep doing hundreds and thousands of time you will achieve your goal.

Make it a growth movement. In case of loosing some weight there are 4 people in my team who lost collectively 55 kg. I am not sure about you but I think that is some weight loss. The idea is to make people around you grow with you. Similarly our clients are happy based on the client survey we conducted and had reached some benchmarks in their goals. We also have the team member who is pretty happy working with us and has done some good work. The business related achievements are not measurable. We feel good about the business.

The analogy of health is simply to get the measured outcome of weight. However the lessons can be drawn in parallel to the business and make is a success story. I am happy with the results and if the tactics & ideas can help you archive your goals that would be wonderful.